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Birk camera shop inc uses the lower-of-cost-or-market basis

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Birk Camera Shop Inc. uses the lower-of-cost-or-market basis for its inventory. The following data are available at December 31.
Units
Cost/Unit
Market Value/Unit
Cameras





   Minolta
5
$170
$158
   Canon
7
145
152
Light Meters





   Vivitar
12
125
114
   Kodak
10
120
135

What amount should be reported on Brik Camera Shop's financial statements, assuming the lower-of-cost-or-market rule is applied?
Total

$

Reference no: EM13568809

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